TOKYO (AP) — Global shares were mixed Tuesday as uncertainty about what will happen with the Iran war roiled global markets.
France's CAC 40 edged up 0.6% in early trading to 8,034.62, while the German DAX gained 1.1% to 24,574.98. Britain's FTSE 100 rose 0.6% to 10,384.15. The future for the S&P 500 fell 0.2% while that for the Dow Jones Industrial Average lost less than 0.1%.
In Asian trading, Japan's benchmark Nikkei 225 lost 0.4% to finish at 60,550.59,
erasing initial gains after the government reported that the economy grew for the second straight quarter in January-March, mainly due to better than expected consumer spending.
South Korea’s Kospi sank more than 4% in early trading and closed 3.3% lower at 7,271.66. Shares in Hyundai Motor Co. sank 8.9%, LG Electronics dropped 11.7%, Samsung Electronics slipped 2.0% and SK Hynix fell 5.2%, tracking losses in tech shares overnight on Wall Street.
Australia's S&P/ASX 200 added 1.2% to 8,604.70. Hong Kong's Hang Seng climbed 0.5% to 25,797.85, while the Shanghai Composite gained 0.9% to 4,169.54.
In energy trading, benchmark U.S. crude lost 63 cents to $108.03 a barrel. Brent crude, the international standard, dipped $1.59 to $110.51 a barrel.
Oil prices have been gyrating lately because of uncertainty over how long the Iran war will keep the Strait of Hormuz effectively closed, preventing oil tankers from delivering crude. Japan, for instance, imports just about all its oil, much of it previously through the strait.
The price for a barrel of Brent crude oil, the international standard was trading at about $70 before the war. It fell after President Donald Trump said in a social media post that he was holding off on a military strike on Iran planned for Tuesday because “serious negotiations” are underway to end the war.
On Monday, the S&P 500 finished with a loss of 0.1%, the Dow industrials added 0.3% and the Nasdaq fell 0.5%.
Investors are watching for Nvidia’s latest quarterly results, due Wednesday. The chip company has routinely blown past analysts’ expectations each quarter while forecasting more growth. Target, Home Depot and Walmart also report results this week.
In currency trading, the U.S. dollar rose to 159.08 Japanese yen from 158.84 yen. The euro cost $1.1632, down from $1.1657.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
